Can Kraft Heinz Stock Reach $38?
Kraft Heinz (NASDAQ: KHC) is attracting more positive investor sentiment. The stock just received an upgrade from a Bank of America analyst, who sees a good chance that shares will rise to $38 in the near term.
Analyst Bryan Spillane said the consumer-packaged foods giant could outperform management's latest growth targets for a few reasons, including higher at-home cooking through late 2020. Kraft said in late April that the COVID-19 shelter-in-place moves helped push organic sales to their best quarterly result in years. Executives were cautious in their outlook, though, due to significant risks like slowing economic growth and slumping demand in the foodservice industry.
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Source Fool.com
